Categories: Business

Al-Hogail Thanks the Leadership for the Council of Ministers’ Approval of the Updated Regulation for Non-Saudis’ Ownership of Real Estate

RIYADH, Saudi Arabia, July 10, 2025 /PRNewswire/ — His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers’ approval of the updated regulation on non-Saudis’ ownership of real estate, during its session held on Tuesday, 8/07/2025.

- Advertisement -
His Excellency explained that the Council of Ministers’ approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem.

He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah.

- Advertisement -

He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions.

According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation’s provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions.

- Advertisement -

It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights.

- Advertisement -

View original content:https://www.prnewswire.co.uk/news-releases/al-hogail-thanks-the-leadership-for-the-council-of-ministers-approval-of-the-updated-regulation-for-non-saudis-ownership-of-real-estate-302502588.html

PRNW Agency

Recent Posts

C3 AI Fiscal First Quarter 2026 Preliminary Financial Results

REDWOOD CITY, Calif.--(BUSINESS WIRE)--C3.ai, Inc. (“C3 AI,” “C3,” or the “Company”) (NYSE: AI), the Enterprise…

2 hours ago

Scott+Scott, Robins Kaplan, Hausfeld Reach Agreement with Greystar for Significant Monetary Relief and Important Business Reforms

SAN DIEGO--(BUSINESS WIRE)--The law firms of Scott+Scott, Robins Kaplan, and Hausfeld have reached an agreement…

2 hours ago

CJ 4DPLEX and Nu Metro Cinemas Strengthen Partnership with First-Ever SCREENX in South Africa

Durban, Nu Metro's New Location in South Africa, Will Feature the 270-Degree Panoramic SCREENX Auditorium…

7 hours ago

ViewSonic Opens Global Entries for the 6th ColorPro Awards: FLOW

Inviting Creators Worldwide to Capture the Rhythm of Creativity BREA, Calif., Aug. 6, 2025 /PRNewswire/ -- ViewSonic…

7 hours ago

Bayes Market Secures Strategic Investment to Lead the Prediction Market Revolution

HONG KONG, Aug. 6, 2025 /PRNewswire/ -- Bayes Labs team announces that Bayes Market, the prediction…

9 hours ago

Thailand’s Government Reaffirms Commitment to Strengthen Competitiveness in Dialogue With 30 Global Investors

BANGKOK, Aug. 6, 2025 /PRNewswire/ -- Thailand's Acting Prime Minister Mr. Phumtham Wechayachai today welcomed senior…

9 hours ago